| GBP millions | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 122.0 | 128.4 | 134.7 | 203.0 | 262.8 | 275.7 | +4.9% | |
| Depreciation & amortization | 26.2 | 34.7 | 39.5 | 39.0 | 43.9 | 46.5 | +5.9% | |
| Stock-based compensation | 1.2 | 1.6 | 1.0 | 1.2 | 1.3 | 4.0 | +207.7% | |
| Change in working capital | (14.8) | (35.9) | 18.6 | (7.9) | 3.2 | 8.8 | +175.0% | |
| Operating cash flow | 132.9 | 121.7 | 193.9 | 196.2 | 247.4 | 267.7 | +8.2% | |
| Capital expenditure | (30.0) | (32.3) | (28.3) | (32.6) | (40.9) | (49.4) | −20.8% | |
| Acquisitions | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Investing cash flow | (30.0) | (32.3) | (28.3) | (30.1) | (38.0) | (46.9) | −23.4% | |
| Dividends paid | (60.5) | (93.5) | (136.5) | (138.3) | (171.4) | (160.1) | +6.6% | |
| Share buybacks | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Debt issued / repaid | 0.0 | 0.0 | 0.0 | (11.8) | 0.0 | 0.0 | — | |
| Financing cash flow | (70.0) | (103.6) | (146.6) | (148.5) | (183.3) | (170.6) | +6.9% | |
| Free cash flow | 102.9 | 89.4 | 165.6 | 163.6 | 206.5 | 218.3 | +5.7% | |
| Net change in cash | 32.3 | (13.8) | 18.8 | 17.4 | 25.0 | 50.3 | +101.2% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
